|Public Release Date: March 20, 1998||No. 98-18|
The State Agricultural Society operates under Minn. Stat. Chapter 37. The Minnesota State Agricultural Society Board of Managers operates the annual State Fair exposition and maintains the fairgrounds.
At October 31, 1997, the State Agricultural Society reported net income of $3,038,160. The Society generated $22,604,428 in revenues during the fiscal year, including both fair-time and non-fair event revenues. The Society had total assets of $24,059,422 as of October 31, 1997
The audit objectives were to:
We issued an unqualified opinion on the Society's financial statements. The Society's annual report, which includes its audited financial statements, is available from the Society.